Overview
- Goldman will pay $665 million in cash and equity with up to $300 million more tied to Industry Ventures’ performance through 2030.
- Closing is targeted for the first quarter of 2026, subject to regulatory approvals.
- All 45 Industry Ventures employees are expected to join Goldman as the business integrates into the External Investing Group within Goldman Sachs Asset Management.
- Industry Ventures manages about $7 billion, reports an 18% internal rate of return, and has made more than 1,000 investments with stakes in over 700 venture firms.
- Goldman frames the acquisition as a boost to its roughly $540 billion alternatives platform, positioning it for growth in secondaries, continuation funds, and buyout solutions as IPO exits remain muted.